Senate Panel Advances Calabria Nomination to Head FHFA

On strict party lines, the Senate Banking Committee yesterday approved the Trump Administration’s nomination of Mark Calabria as director of the Federal Housing Finance Agency.

By a 13-12 vote, the Committee sent Calabria’s nomination to the Senate floor.

Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, issues a statement signaling MBA’s approval of Calabria.

“Dr. Calabria has deep expertise in housing policy, which will serve him well in a role that profoundly impacts the mortgage and real estate markets, should he be confirmed,” Broeksmit said. “In particular, we hope to work with him to resolve the future of Fannie Mae and Freddie Mac, and help to better serve borrowers, protect taxpayers and ensure equal access to stable and liquid secondary mortgage markets for a wide variety of single- and multifamily lenders, regardless of size or business model. MBA now calls on the full Senate to swiftly confirm Dr. Calabria as the next head of the FHFA.”

Trump nominated Calabria in December, shortly before the end of Mel Watt’s five-year term as FHFA director. At the time he served as chief economist for Vice President Mike Pence. Previously, he worked on staff of the Senate Banking Committee where helped the Housing and Economic Recovery Act of 2008, which created FHFA. Earlier, he worked for HUD under the George W. Bush administration and worked previously for the Joint Center for Housing Studies at Harvard University, the National Association of Home Builders and the National Association of Realtors.

The Senate has not scheduled a floor vote for Calabria, but his nomination is expected to pass.